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Sunday, April 2, 2023

Bangkok lauded as global hub for cryptocurrencies

Bangkok has emerged as the world’s 10th largest crypto hub, according to new research from cryptocurrency tax software company Recap.

The Crypto Readiness Index, compiled by Recap, ranks Bangkok as 10th in the world as the Thai capital has attracted 57 crypto companies. Recap said Thailand has the world’s second-highest rate of crypto ownership.

“While Thailand banned the use of cryptocurrencies as a method of payment last March, the regulation doesn’t affect trading or investment activity,” said Daniel Howitt, co-founder and chief executive of Recap, but he warned against the Thai regulator’s move to impose more stringent rules.

“Like many countries, Thailand is tightening its rules on the trading of crypto and advertising of digital assets, too. With stricter rules in place,…

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